Latest news with #JasonSchreier
The Verge
6 days ago
- Entertainment
- The Verge
Did PUBG owner Krafton just delay Subnautica 2 and fire execs so it wouldn't have to pay $250 million to devs?
Posted Jul 9, 2025 at 8:19 PM UTC Did PUBG owner Krafton just delay Subnautica 2 and fire execs so it wouldn't have to pay $250 million to devs? That is the unanswered question in Jason Schreier's latest for Bloomberg , which reveals the existence of a $250 million bonus if the game met sales targets this year — and that the ousted bosses of developer Unknown Worlds were planning to share it with staff. New studio head Steve Papoutsis told employees he was unaware of the bonus, and that Krafton had simply decided the game wasn't ready to ship.
Express Tribune
03-07-2025
- Entertainment
- Express Tribune
Microsoft cancels Perfect Dark and Everwild after Xbox layoffs
Microsoft has announced widespread layoffs across its Xbox division, leading to the cancellation of several major game projects, including Rare's Everwild and the long-awaited Perfect Dark reboot. According to a report by Bloomberg's Jason Schreier, hundreds of Xbox employees were let go, with layoffs impacting multiple studios under Microsoft's gaming umbrella. Among the hardest hit was The Initiative, a recently established studio responsible for developing Perfect Dark. The studio has now been shut down entirely. Rare's Everwild, originally announced in 2019, has also been scrapped after years of uncertain development. Rare is best known for titles like Sea of Thieves, and Everwild was one of its most anticipated upcoming releases. In addition to these cancellations, other Microsoft-owned studios including King (developer of Candy Crush), the teams behind Forza Motorsport, Call of Duty, Halo, and ZeniMax Online Studios (creators of The Elder Scrolls Online) also experienced job cuts. ZeniMax reportedly canceled an unannounced online project. Xbox Game Studios head Matt Booty confirmed in an internal memo that the restructuring was part of a 'broader effort to adjust priorities' and 'focus resources' amid a shifting industry landscape. These layoffs follow Microsoft's recent price hikes for Xbox Game Pass and come after multiple billion-dollar acquisitions, including Activision Blizzard. The move signals a major realignment in Microsoft's gaming strategy. The company has not disclosed the total number of layoffs, but reports suggest the number is in the hundreds.
Engadget
02-07-2025
- Entertainment
- Engadget
Everwild has reportedly been cancelled amid Xbox layoffs
In today's gaming world, a decade of development can sometimes amount to nothing. Parent company Microsoft has reportedly cancelled Rare's long-in-development project Everwild . The news comes amid broader layoffs across Microsoft's Xbox division. Rare employees will likely be part of the Xbox layoffs, according to Video Games Chronicle . VGC and Bloomberg 's Jason Schreier were the first to report the game's cancellation. (Schreier added that an MMORPG project from Zenimax, codenamed "Blackbird," was also scrapped.) Rare officially announced Everwild in 2019. But the game had been in development since around 2014. Its trailer finally arrived five years ago, hinting at a lush and magical atmosphere. However, the footage offered no hints about gameplay. That may have been intentional. Its development reportedly suffered from a lack of clear direction. It was even said to have survived a "restart from scratch" in 2021 when Gregg Mayles took over direction. (He's known for titles like Donkey Kong Country , Banjo-Kazooie , Viva Piñata and Sea of Thieves .) Xbox explained the lack of official updates by saying it was waiting until it had "something cool to show." As recently as February, the game seemed to be on track. Microsoft's Phil Spencer said, "It's nice to see the team with Everwild and the progress that they're making." Words, words, words… That brings us to today, with the coda of an all-too-familiar story. Developers lose jobs. Gamers miss out on the chance to play something that had countless resources poured into it. And the gaming industry tightens its belt even further. How much tighter can it get?
Yahoo
25-06-2025
- Business
- Yahoo
Microsoft to conduct another round of layoffs at Xbox division, Bloomberg says
Microsoft (MSFT) will conduct another round of major layoffs in its Xbox division this week, with managers expecting substantial cuts across the entire group, Jason Schreier of Bloomberg reports, citing people familiar with the plans. This will be the fourth big layoff at Xbox within the last 18 months. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on MSFT: Disclaimer & DisclosureReport an Issue Trump Trade: Trump slams Powell while Fed chair appears before Congress Quantum Computing News: New Roadmaps, Real Timelines, and Rising Stocks Top Analyst Views Microsoft Stock (MSFT) as a 'Key Beneficiary of AI Adoption' Video Game Layoffs Continue with Cuts at MindsEye and Splitgate 2 Studios Is ChatGPT Dumbing Us Down? MIT Study Says Yes Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
India.com
25-06-2025
- Business
- India.com
Microsoft Layoffs 2025: Tech Giant Likely To Fire Employees Next Week In Xbox Division, Fourth Major Job Cuts In Past 18 Months
Microsoft Layoffs 2025: Microsoft is likely to layoff employees within its Xbox division next week, as per media reports. According to Bloomberg's Jason Schreier and additional details by Tom Warren, the tech giant is reorganizing its Xbox gaming division and other key departments, including sales However, the exact number of job cuts remains uncertain, the layoffs are expected to be significant. They are part of a broader company-wide restructuring effort that may also impact employees in Microsoft's global sales operations. If confirmed, this would mark the fourth major wave of job cuts within Xbox in the past 18 months, following three significant layoffs last year and the shutdown of several subsidiary studios. These upcoming layoffs come as Microsoft continues to revamp its gaming strategy in preparation for the next generation of Xbox consoles. Microsoft Layoffs Date The layoffs are likely to be announced early next week, just before the end of Microsoft's fiscal year on June 30. The company is under increasing pressure to boost profitability, particularly in the wake of its $69 billion acquisition of Activision Blizzard in 2023. What Is Xbox Division The Xbox division is Microsoft's gaming arm, responsible for Xbox consoles, exclusive games through Xbox Game Studios, and services like Xbox Game Pass and Xbox Network. It also includes cloud gaming (xCloud) and gaming accessories. Now part of Microsoft Gaming, it oversees major acquisitions like Bethesda and Activision Blizzard, playing a crucial role in Microsoft's global gaming strategy. Microsoft Massive Job Cuts Microsoft recently eliminated over 300 more jobs, further extending its ongoing wave of workforce reductions. These latest cuts come just weeks after the company carried out its largest round of layoffs in years, which saw 6,000 roles eliminated. In total, Microsoft has now cut more than 6,300 jobs in recent weeks. This marks the company's second-largest workforce reduction since 2023, when it laid off 10,000 employees.
